iRetire® resources

There are two ways to access iRetire from the Envestnet platform: directly from the BlackRock Launch Pad or through the proposal generation tool.

Click “iRetire by BlackRock” within the BlackRock Launch Pad (you may have to scroll down on your workstation to see it). Use the arrows within the “Column Manager” to move the BlackRock Launch up in your Desktop view.

If your firm has enabled the iRetire proposal integration, you can create a new proposal in the Envestnet platform by selecting “iRetire Proposal” as the Proposal Type. Once you click “Save,” you’ll then be brought into the iRetire landing page.

iRetire is a technology that can be used across your practice with prospective or existing clients.

For prospects, iRetire gives you an easy-to-understand way to have meaningful planning conversations. It only takes a few minutes to generate an iRetire plan, which means you can save the longer, full financial planning software for clients who truly need it, or as relationships grow. For example, using iRetire to quickly create a retirement income picture also helps you identify held-away assets.

For existing clients, iRetire gives you a fast and flexible way to check in with them each year, helping ensure that they stay on track toward their lifetime income needs throughout retirement. iRetire can also be a client-friendly complement to financial planning software that you may already use. iRetire gives you a quick and simple way to execute on a client’s financial plan with an investment strategy designed to help achieve their desired income.

For all clients, iRetire is built to be dynamic and generate relatable results that reflect real-world data and help bring clarity to their retirement income outlook.

With iRetire, you can help your clients answer some of life’s most pressing questions, in a matter of minutes: “Do I have enough money to retire? Will my money last throughout retirement?” With just a few inputs, you can quickly estimate annual retirement income, show where they stand in relation to their goals, and work with your clients to select a retirement portfolio and make adjustments to how they save, spend, and invest through retirement.

The iRetire Decumulation module allows you to make adjustments to account for additional spending needs or expected income during the initial years of retirement. You also have the ability to include desired annuity-based income as a portion of your annual retirement income estimate. The iRetire Accumulation module allows you to visualize for clients the potential impact that regular check-ups and adjustments can have on meeting their goals and managing risk over the long-term.

Your support as a financial professional can be invaluable in defining a retirement income target. With iRetire, you can start with a client’s current or desired income, make an informed estimate of how their income need will change in retirement, and determine what type of savings and investment strategy will be required to generate the desired income. The iRetire Accumulation tool includes a calculator - making it easy for you to translate a client’s current income into a retirement income goal, taking into account potential future wage growth and inflation.

Yes, market changes will affect the values generated by the tool’s underlying CoRI® methodology, which helps translate savings into income and is calculated daily. The tool’s model portfolios and capital market assumptions are periodically updated and rebalanced to reflect the dynamic nature of the markets. As such, you should check back on the iRetire plan with your client to discuss what may have changed and to make adjustments as warranted, using both the iRetire plan and traditional retirement planning tools. To monitor your client’s progress, simply adjust your selected inputs based on any changes in asset level, age, and so on, and see how these changes affect their output. We suggest using the iRetire plan at least annually to stay connected to evolving markets as well as their evolving needs.

The investment selections featured in the tool broadly reflect the types of core equity and fixed income exposures that are commonly included within diversified portfolios. The investment displayed, which should be selected by you based on your client's goals, is intended to illustrate a possible asset allocation for you to discuss further with your client in relation to his or her retirement income needs. You and your client always have the option to change the asset allocation in your client’s portfolio or substitute different investments that you think may be appropriate. Any decision to implement a portfolio is solely your decision in consultation with your client.

Once the iRetire analysis is complete, if your firm has enabled the iRetire proposal integration, you can create a new proposal to send to the Envestnet platform by selecting “Create Proposal.” This will bring you into an active Envestnet proposal where the relevant information you filled out in the iRetire analysis is automatically carried over and pre-populated. Follow the Build, Implement, and Review options to complete the Envestnet proposal.

The estimated annual retirement income range represents a projected range of annual retirement income derived by first growing the investor’s current retirement savings and any additional annual savings from now until the investor’s anticipated retirement age by the assumed return of the selected model portfolio. Next, the investor’s projected portfolio balance at retirement is divided by the corresponding projected CoRI value in order to calculate an average estimated annual retirement income. The estimated low and high range reflects the volatility of outcomes. Results are shown at one standard deviation. Lifetime retirement income costs are measured by BlackRock’s CoRI technology. More information about the technology and assumptions, including BlackRock's capital market assumptions, can be found in the iRetire tool.

The CoRI® Retirement Indexes (“CoRI Indexes”) are a suite of age-based indexes designed for investors ages 55-74. Each CoRI Index provides a daily “level” that can be used to estimate, as early as 10 years before retirement (assumed to be age 65), how much annual lifetime retirement income investors’ current retirement savings could generate.

Specifically, the CoRI Index levels help estimate how much money is needed today to generate each dollar of future, cost-of-living adjusted, annual lifetime income starting at age 65. The methodology takes into account current interest rates, inflation expectations, life expectancy and a number of other factors.

iRetire® uses the CoRI Index levels to calculate retirement income estimates and applies the same mathematical models that calculate the existing indexes to investors between the ages of 40-54 and 75-84 as well as those retiring at ages other than age 65.